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Eurozone core inflation revised higher, headline figure confirmed at 1.5 pct

European Union's statistics office on Wednesday published Eurozone final inflation data which showed eurozone’s brief flirtation with 2 percent inflation was over. Eurostat confirmed the March's preliminary inflation reading of 1.5 percent, which was the biggest monthly price drop in over a year.

Eurozone core inflation was revised higher than initially forecast. Core inflation, which excludes volatile prices of energy and unprocessed food and which the European Central Bank (ECB) monitors closely, was revised up to 0.8 percent year-on-year in March from an earlier estimate of 0.7 percent.

The revised core inflation data may slightly strengthen hawks on ECB board for winding down monetary stimulus. That said, inflation remains below the central bank's target of inflation close but below 2 percent over the medium term. And the ECB policymakers think the current climb in inflation is not sustainable as it is underpinned by volatile factors.

With growth remaining modest and unemployment falling slowly from very high rates, ECB is likely to remain reluctant to quickly remove the stimulus they have been providing since mid-2014.

In fresh forecasts for the global economy released Tuesday, the International Monetary Fund said it expects the eurozone economy to expand at the same 1.7 percent rate this year as it did last. In 2018, it expects growth to ease to 1.6 percent.

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April 28 21:00 UTC Released

MXFiscal Balance (Pesos)*

Actual

340.61 bln MXN

Forecast

Previous

-1.93 bln MXN

April 28 21:00 UTC Released

CNFiscal Balance (Pesos)*

Actual

340.61 bln MXN

Forecast

Previous

-1.93 bln MXN

April 30 01:00 UTC 100100m

CNNBS Non-Mfg PMI*

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Forecast

Previous

55.10 %

April 30 01:00 UTC 100100m

CNNBS Manufacturing PMI*

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Forecast

51.6 bln $

Previous

51.8 bln $

April 30 23:30 UTC 14501450m

AUAIG Manufacturing Index

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Forecast

Previous

57.5 %

May 1 00:00 UTC 14801480m

KRExport Growth Prelim*

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Forecast

15.3 %

Previous

13.6 %

May 1 00:00 UTC 14801480m

KRImport Growth Prelim*

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Forecast

21.0 %

Previous

27.7 %

May 1 00:00 UTC 14801480m

KRTrade Balance Prelim*

Actual

Forecast

Previous

6.27 bln $

May 1 00:30 UTC 15101510m

USNikkei Mfg PMI

Actual

Forecast

Previous

52.8 %

May 1 00:30 UTC 15101510m

JPNikkei Mfg PMI

Actual

Forecast

Previous

52.8 bln $

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